14/06/2014 (Hindu Business Line) - Edible oils prices witnessed a bullish trend on Friday tracking firm futures, higher physical demand and increased import cost due to weak rupee. During the day all local refineries got good buying orders from stockists. Over 2,000 tonnes of edible oils (palmolein, sunflower and soya oil) were sold by them. Soya oil futures prices on the NCDEX were over ₹5-6 till evening tracking higher closing of Malaysian palm oil for the second consecutive day.

On Bombay Commodity Exchange, imported palmolein and soyabean refined oil rose by ₹7 and ₹5 for 10 kg each . Cotton and rapeseed oil increased by ₹5 and ₹6 each. Liberty sold 750-800 tonnes of palmolein at ₹555, Allana sold 200-250 tonnes palmolein at ₹552 ex JNPT. Ruchi sold 400-450 tonnes palmolein at ₹555, soyabean refined oil 250-300 tonnes at ₹633 and sunflower refined oil 200-250 tonnes at ₹635. Vikram Global Commodities (P) Ltd, Chennai, quoted ₹595/10 kg for Malaysian super palmolein - June delivery. Liberty was trading palmolein for ₹557, super palmolein ₹575 and soyabean refined oil ₹645 for July. Ruchi’s palmolein rates were ₹558, soyabean refined oil ₹633 and sunflower refined oil ₹635 for July. Allana was quoting palmolein for ₹555/557 ex JNPT/Khapoli, soyabean refined oil ₹640 for August and sunflower refined oil ₹650 for July.

In Saurashtra, groundnut oil Telia tin was up ₹10 to ₹1,090 (₹1,080) and loose (10 kg) was ₹690 (₹680).

Malaysia BMD crude palm oil June contracts closed higher at MYR 2,390 (MYR 2,380), July at MYR 2,411 (MYR 2,386) and August at MYR 2,403 (MYR 2,379).

BCE spot rates (₹/10 kg): groundnut oil 730 (730), soya refined oil 640 (635), sunflower exp. ref. 575 (575), sunflower ref. 640 (640), rapeseed ref. oil 676 (670), rapeseed expeller ref. 646 (640) cottonseed ref. oil 645 (640) and palmolein 554 (547).